It is necessary to pave the way for net-zero emissions through trade policy – Dainik Savera Times

Many countries have pledged to reach “net-zero emissions” by 2050, meaning they will not produce more carbon than they can remove from the atmosphere. This includes big countries like China, America, India, Russia, Japan, European Union, which produce carbon.

However, for some people it may take until the year 2060 or even 2070 to achieve this goal. Still, current efforts are not enough to get there.

To help meet this important goal, we can align our trade policies with our plans to fight climate change. More than 140 countries, covering about 88 percent of world emissions, have agreed to reach “net-zero emissions” by a specific time. They plan to reduce pollution and slow global warming.

However, these plans fall short of meeting the goal set in the Paris Agreement, which aims to keep global warming below 1.5 degrees Celsius before factories and trains become commonplace.

Our trade policies must work hand in hand with our plans to fight climate change. Currently, this relationship is often ignored while making plans. But there are many good reasons to link trade and climate action.

It is also important to use these green businesses and investments to help developing countries. They often struggle to obtain funding and technology to fight climate change. By creating trade and investment rules that support green energy, we can help these countries make the transition too.

But there is a problem. Some countries are putting up barriers to trade because they are concerned about their energy security. They may stop selling certain materials needed for clean energy or give preference to their own companies over foreign companies. This makes it difficult for businesses to operate across borders and slows our move toward clean energy.

If countries continue to adopt protectionism, multi-national companies will be less willing to invest abroad. This could lead to problems obtaining the materials we need for clean energy, making our energy supply less secure in the long run. It’s like tying knots in the ropes of a game of tug-of-war – we won’t make progress if everyone is pulling in different directions.

To fix this, we need to develop trade policies that better align with our climate goals. We can encourage investment in building things like roads and schools and make it easier for businesses to cooperate.

In Asia and the Pacific, where there is great potential for clean energy, governments should cooperate to reduce risks for businesses, protect the environment, and improve regulations governing the manufacturing and trade of things.

To move towards zero emissions we need to rethink our trade policies. Clear rules and open markets can encourage investment in green projects, build trust between businesses, and facilitate the sharing of ideas and resources between countries.

(Akhil Parashar, China Media Group, Beijing)